Income Taxes (Tables)

12 Months Ended

May 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

Income before income taxes consists of the following components for the fiscal years ended May 31:

(In thousands)	2024		2023		2022
U.S. operations	$	1,860,859	$	1,632,391	$	1,445,719
Foreign operations	112,776		60,757		53,049
	$	1,973,635	$	1,693,148	$	1,498,768

Schedule of Components of Income Taxes

Income tax expense consists of the following components for the fiscal years ended May 31:

(In thousands)	2024		2023		2022
Current:
Federal	$	327,616	$	248,413	$	162,269
State and local	79,583		56,589		32,431
Foreign	25,344		13,205		16,676
	432,543		318,207		211,376
Deferred	(30,500)		26,931		51,635
	$	402,043	$	345,138	$	263,011

Schedule of Reconciliation of Income Tax Expense Using the Statutory Rate and Actual Income Tax Expense

Reconciliation of income tax expense using the statutory rate and actual income tax expense is as follows for the fiscal years ended May 31:

(In thousands)	2024		2023		2022
Income taxes at the U.S. federal statutory rate	$	414,463	$	355,561	$	314,741
Permanent differences (1)	(67,310)		(59,502)		(85,413)
State and local income taxes, net of federal benefit	49,560		46,245		33,547
Other	5,330		2,834		136
	$	402,043	$	345,138	$	263,011

(1)    Primarily consists of the excess tax benefits related to stock-based compensation.

Schedule of Components of Deferred Income Taxes

The components of deferred income taxes included on the consolidated balance sheets are as follows at May 31:

(In thousands)	2024		2023
Deferred tax assets:
Reserves related to accounts receivable	$	13,478	$	12,562
Inventory reserves	18,913		22,822
Insurance reserves	45,154		45,153
Stock-based compensation	71,146		63,186
Net operating loss and foreign related carry-forwards	2,169		—
Operating lease liabilities	48,964		46,258
Deferred compensation and other	114,786		92,538
	314,610		282,519
Valuation allowance	(2,129)		—
	312,481		282,519
Deferred tax liabilities:
Uniform and other rental items in service	251,394		248,883
Property and equipment	175,214		171,971
Intangibles and other amortizable assets	178,583		190,299
Treasury locks	37,202		32,830
Capitalized contract costs	91,551		88,056
Operating lease right-of-use assets	48,964		46,258
State taxes and other	5,085		2,578
	787,993		780,875
Net deferred tax liability	$	475,512	$	498,356

Schedule of Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits (exclusive of interest and penalties) is as follows:

(In thousands)
Balance at June 1, 2022	$	37,574
Additions for tax positions of the current year	6,904
Additions for tax positions of prior years	6,821
Settlements	(12,937)
Statute expirations	(1,608)
Balance at May 31, 2023	36,754
Additions for tax positions of the current year	10,895
Additions for tax positions of prior years	4,864
Settlements	(7,325)
Statute expirations	(3,442)
Balance at May 31, 2024	$	41,746